Orro3790

Orro3790

Holding my short positions on xxx/USD. This looks like a pretty clear wave 4 correction we are in. This is primed for wave 5, next leg up. That puts us right around the blue resistance line. GL! DXY

Orro3790 Updated 

We are about to complete a gartley pattern on the daily for USD/CAD. RSI coincides with the move, if it completes. Watching for completion in near future, ready to short! FX_IDC:USDCAD

Orro3790

last leg down was a 1.61 extension. If history repeats itself, we'll see 63.03. USOIL

Orro3790

Very close to perfect harmonic ratios here. Target is the .618.

Orro3790

SPX has taken a beating lately, and has dragged down the USDJPY to a major support level. The question is, can it break this support, or will it bounce from here first? I believe we will see a bounce play out here before it falls much further. It may pierce the support level, but I don't think it will stay well below for now. SPX is very oversold, and the last...

Orro3790

Long NZDUSD. News comes out Monday, which could spark this powder keg! GL!

Orro3790

Gold has made some interesting harmonic movements on the daily. Nearly 3 perfect harmonic movements (A-->B Retracement just barely passed the .61 level). We are overextended on the hourly, with declining volume, and approaching daily resistance levels. Short gold to .38 and .61 levels (C--->D retracement). TVC:GOLD

Orro3790 Updated 

CAD has seen incredible surges due to bullish breakouts in US CRUDE OIL ($WTI), and FOMC not signalling a 4th hike. 1-4h time frames oversold on USDCAD, and price resting on the channel support. DYX took a hit, but will bounce, and if that happens along with a much needed pullback on CRUDE OIL, look out! CAD will bounce hard. Look at the RSI levels on US CRUDE...

Orro3790 Updated 

FOREXCOM:WTIUSD Bearish Gartley completed. Set your stop loss just above "X". Target 1: .382 fib Target 2: .618 fib Take half profit at T1. RSI Confluence, suggest overbought.

Orro3790

Chances are, the market will open green, as it rides on bullish continuation from Friday's bounce. However, we aren't out of trouble yet. RSI will become overbought, and we have not yet made higher highs. Expecting a bounce from one of the resistance levels I have charted. Will be ready to switch to a short position by midday. SP:SPX

Orro3790

Expect a bullish open, from bullish market continuation on the S&P500. However, fully expecting RSI to become overbought after the bull open. S&P will cool-off, and WEED.TO will begin its sell-off. Step 1) Ride long on the bullish continuation upon open. Look to short from of the top 3 levels as labelled on the chart. Enter when MACD shows bullish momentum slow,...

Orro3790

Friday's close was impressive, but until we see higher highs, we are still in our down-trending channel. Monday is likely to open with continued bullish momentum, but can still easily reverse to more downside after it hits the 50-SMA. Monday's plan of action: Ride bullish momentum in a long position, watch for the peak and turn over, and get into short position...

Orro3790 Updated 

TSX:WEED I believe we will open with a sell-off because: 1) Key support broken on the S&P500. 2) Increased bear momentum upon close. 3) Incredibly bearish maruboza candlestick on the daily. Looking back at our daily chart, we can draw a fib retracement from our most recent main leg down, to our low on the 5th. We see that yesterday we bounced off the .68...

Orro3790

SP:SPX Chart says it all, but basically, using the fib extension from "A" -- > "B", we see the 0.61 retracement level coming soon as support. This coincides with an hourly bounce that is due Monday morning. Price will likely hit the 0.61 level @ "C" ($2,750). From there, I set a price target at D ($2,768) which is based on two factors: 1) Looking back at...

Orro3790

SP:SPX I am currently trading in the Canadian weed sector (WEED.TO), which have been closely following the SPX. Planning trades successfully means paying close attention to SPX, because of how closely they are correlated. We have not seen such a substantial daily price drop since September 9th, 2016. Let's compare market conditions based on RSI, MACD, and price...